Chinese online wine and spirits shop Jiuxian.com has said that it plans to invest ‘a maximum of 83 million RMB (10 million euros)’ to buy a Bordeaux winery.
Chinese online wine and spirits shop Jiuxian.com has said that it is part of a consortium that plans to invest ‘a maximum of 83 million RMB (10 million Euros)’ to buy a Bordeaux winery.
While the company hasn’t named a target, it said that it plans to directly import wines from the producer.
The move provides further evidence to the booming interest from Chinese investors in Bordeaux properties.
Jiuxian said a deal would ‘complement the current operational structure of the company’.
The winery purchase is planned to be conducted through Jiuxian.com’s soon-to-be-established branch company in Hong Kong.
The purchase is expected to be a joint venture of multiple investors. Jiuxian.com plans to invest a maximum of 10 million RMB of its own money.
Jiuxian.com told local media Wine Business Observation that the purchase will be ‘an extension from the company’s existing direct-sales operations’.
The move came after the online shop said that it achieved a 20 million RMB increase in gross profit during China’s annual ‘Single’s Day’ online shopping festival, which was again hosted on 11 November.
The company refrained from announcing the total sales figure of this year’s shopping festival.
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